RQI Immobilien AG (RQI) is continuing the development of the “TEDESCO” residential complex in Wiesbaden city centre on behalf of a high-net-worth private investor. Through its subsidiary, RQI Asset Management GmbH, it will in future be responsible for asset management and the ongoing development of the properties at Bertramstraße 16 and Zimmermannstraße 10.
RQI had acquired the complex in April 2024, secured planning permission for its development in 2025, and subsequently sold it to a wealthy private investor.
Value creation before and after the change of ownership
The project forms part of RQI’s integrated investment and portfolio development strategy, which is geared towards increasing the value of properties through active development and subsequent asset management. By adding storeys to the roof and converting former commercial space into residential accommodation, the number of flats will increase by 90 per cent, from 22 to 42. The total floor area will increase by around 30 per cent, from 2,100 m² to 2,700 m².
By securing the building lease, RQI has laid the groundwork for the further development of the complex and is now overseeing the implementation of the measures on behalf of the new owner. This includes the refurbishment and re-letting of existing flats, fully furnished, the utilisation of previously unused basement space, active rental and income management, and the reduction of vacancies and management costs.
“The ‘TEDESCO’ project illustrates our business model: we identify opportunities for value creation, use our entrepreneurial initiative to create the conditions for realising them, and remain on board as a responsible partner even after a change of ownership. For private investors, this combines the expertise of a property investor with the operational execution capabilities of a specialised portfolio development platform,” explains Hendrik Th. Möller, founding director and COO of RQI Immobilien AG.
Energy-efficiency upgrades and tenant consultation
The energy-efficiency refurbishment currently underway includes façade insulation, the replacement of windows and the modernisation of the heating system. The aim is to improve the energy efficiency rating from F to B+.
As the portfolio is being developed whilst tenancies are still in force, RQI involves tenants in the process at an early stage and keeps them informed about the planned measures. The energy-efficiency upgrades are also intended to reduce operating costs. According to current calculations, a reduction of around 34 per cent is possible.
“A complex development project within an existing housing stock can only succeed with interdisciplinary expertise, close coordination with the authorities and specialist planners, and a constructive dialogue with the tenants. Our aim is to combine economic value creation, improved building quality and sustainable solutions for the residents,” says Dominik Schott, Managing Director of RQI Asset Management GmbH.
